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Chapter 7. Bull Call Spreads and Bull Put Spreads

Many people think you can only trade the markets when they are going up. This is not so. You shouldn’t really care in a predictive sense. Because whichever direction it’s heading, I’ll attempt to follow the trend. Bearish strategies can be just as profitable as bullish strategies. But for now, we’ll just concentrate on being bullish.

The question, “Where is the market heading?” can be answered only in the context of time frame. A five-minute chart might indicate strong upward movement, whereas the daily charts suggest either a downtrend or consolidation. You’ll ultimately decide what time frame you’re best suited to trade, but whatever the case, it’s a good idea to be aware of multiple time frames. ...

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